“SIFMA understands the SEC’s objectives and supports their efforts both to enforce the law against illegal naked short selling and to root-out false rumors. Such behaviors simply cannot be countenanced.

“SIFMA has reviewed the SEC’s order, and in consultation with our members, today approached the SEC with questions about its scope and application. We hope to solicit clarification on several important issues to ensure the market continues to operate smoothly and with the necessary liquidity.”